This paper analyses the interlink between resource revenues and financial sector management in Russia and Kazakhstan. In the absence of a well functioning private financial sector the governments can substitute for the actions of the private actors by introducing dedicated financial vehicles....

The paper analyses data from the survey of 701 Kazakhstani firms over a nearly 2-year period from the second quarter of 1998 through the fourth quarter 1999, making it possible to examine employment changes for period prior to, during and following the Russian financial crisis of August 1998....

Cover -- Half-Title -- Title -- Copyright -- Contents -- List of Tables, Figures, Boxes and Maps -- Foreword -- List of Abbreviations -- Introduction -- Part I The Economics of Caspian Hydrocarbon Development -- 1. Economic Development and Resource Dependence -- 2. The Management of Hydrocarbon...